With the cost of federally subsidized flood insurance rising, officials want some northern New Jersey towns to restrict development in flood-prone areas. To reach this goal, the Federal Emergency Management Agency has developed model ordinances for the towns to adopt, …
North Carolina will receive a $4 million grant from the Federal Emergency Management Agency for a flood plain mapping project, Sen. Elizabeth Dole announced last week. “This funding will help protect North Carolinians and their property by enabling them to …
In June, the Federal Emergency Management Agency changed the insurance requirements local governments and nonprofits must meet to be eligible for public aid, potentially leaving nonprofts and governments responsible for paying deductibles that in some cases now cost tens of …
A federal jury awarded $70,000 to a Louisiana financial executive who sued Boston-based Lexington Insurance Co., seeking more than $750,000 for his Mobile Bay, Ala., vacation home that crumbled under Hurricane Katrina’s winds and waves. The homeowner, Richard Preis of …
A preliminary report from the federal government has found no evidence to support allegations that private insurers improperly shifted wind damage claims from Hurricane Katrina onto the federal government’s flood insurance program. At the same time, the Department of Homeland …
The Chubb Group of Insurance Companies announced it has introduced its admitted excess flood insurance policy in Texas. With the inclusion of Texas, Chubb has launched its flood insurance products in 27 states and the District of Columbia as part …
The U.S. Department of Justice is weighing whether to intervene in a lawsuit that accuses insurance companies of overbilling the federal government for flood damage from Hurricane Katrina, a judge who unsealed the case on Monday said. A team of …
Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services Committee voted late last month to add wind coverage to the National …
Agents say ‘no’ or nothing to adding wind coverage in flood program Some independent insurance agents are taking a “neutral” position when it comes to adding in wind coverage in National Flood Insurance Program (NFIP). Still others say “no” to …
Some independent insurance agents are taking a “neutral” position when it comes to adding in wind coverage in the National Flood Insurance Program (NFIP). Still others say “no” to wind entirely. Patrick Royal of the Independent Insurance Agents and Brokers …
